Mutual of Omaha to Enter Medicare Advantage Market

Mutual of Omaha announced its entry into the Medicare Advantage market through a strategic alliance with Lumeris, an industry leader in delivering value-based health care solutions.

Beginning in 2019, Mutual and Lumeris plan to offer a Medicare Advantage plan with prescription drug coverage in select markets. The multi-year agreement between Mutual and Lumeris will create Medicare Advantage plans across the country to provide high-quality and efficient care for Mutual Medicare Advantage customers.

“Our entrance into the Medicare Advantage market represents a significant step forward for Mutual of Omaha as we strive to respond to customer needs and offer a meaningful suite of senior health solutions,” said Mutual Chairman and CEO James Blackledge. “We’re confident that our collaboration with Lumeris will lead to better health outcomes for our Medicare Advantage customers.”

Lumeris, a pioneer in enabling collaborative relationships between payers, providers and consumers, earned recognition as the Best in KLAS leader in Value-Based Care Managed Services for 2015/2016 and 2017. The company has over 10 years of experience with Medicare Advantage plans and has developed a highly successful, collaborative payer model that consistently delivers better clinical outcomes for patients. The first-of-its kind, value-based model emphasizes the wellness of patients and the pursuit of better health outcomes, lower costs, improved patient experience and physician satisfaction.

Blackledge said the alliance will further solidify Mutual of Omaha’s leadership in the senior health market. “Mutual of Omaha was one of the first providers of Medicare Supplement plans, and we intend to continue to meet the changing health care-related needs of seniors. By entering the Medicare Advantage market with Lumeris’ proven value-based care model, we will be able to offer our senior customers a full array of solutions.”

Under the terms of the strategic operating agreement, Mutual of Omaha will own and carry the name of the new Medicare Advantage plans and provide brand, marketing and distribution expertise and capital. Lumeris will work as a strategic operating partner to help evaluate markets, establish networks, align with providers and administer plans.